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| Henry Hudson’s Voyages On A Google Map Posted: 04 May 2009 08:08 AM PDT Henry Hudson never did find the Northwest passage to India, but this year marks the 400th anniversary of his third voyage—the one where he came to New York and sailed up what is now the Hudson River (he made it as far as modern-day Albany). Hudson showed that often it is what you stumble upon on your way to somewhere else that turns out to be your great discovery. To celebrate the anniversary, the Henry Hudson 400 Foundation has charted all of Hudson’s voyages onto a Google map, along with overlays of historical maps. The overlays are kind of clunky, but just being able to see the actual routes Hudson took is kind of cool. I only wish the custom map was available on the Google Maps site itself (maybe it is, but I wasn’t able to find it, although I did find this map of Hudson’s third voyage which was put together by an elementary school class). In fact, Google Maps should have an “Explorers section” where you could see famous expedition routes from Lewis and Clark’s to Shackleton’s voyage to Antarctica. Many of these have already been mapped out for Google Earth or as custom Google Maps, but it would be nice to have them all in one place as a section within Google Maps, or at least make Google could make them easier to find. Crunch Network: MobileCrunch Mobile Gadgets and Applications, Delivered Daily. 
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| No Child’s Play: KIDO’Z Creates A Kid-Friendly Media Browser Posted: 04 May 2009 07:19 AM PDT
Tel Aviv, Israel-based KIDO’Z is taking a crack at it by launching its custom media browser for kids today, so if you have any young children who use the internet on a regular basis, you might want to give this one a whirl. KIDO’Z is a pretty nifty Adobe AIR-powered desktop browser app that gives kids a safe and fun environment to play games, watch videos and/or visit pre-approved websites. When you first install the AIR app as a parent, you can configure the age and gender of your offspring as well as your location and preferred language (there are 17 available). What’s nice is that all these settings are taken into account at a content level, so KIDO’Z automatically caters the media it think is most suited for your kid(s) at first launch. As a parent you get password-protected access to an admin panel where you can add more or restrict access to certain content, set limited time frames for usage, and so on. All content only shows up when a KIDO’Z team member approved the content beforehand, and to add more layers of security all scripts, file downloads, pop-ups and any other attempts that could lead to content which has not been approved, are thoroughly blocked. To use the app, kids won’t need to know how to read or write since obviously the whole UI is quite visual of nature, and very colorful to boot. The main menu of the KIDO’Z browser currently consists of three categories: games, videos and websites. All media can be opened and viewed inside the app’s interface, and in fact kids can only leave the KIDO’Z environment by exiting the browser altogether. CEO Gai Havkin tells me the tool will later be extended to a closed network of communication tools, including e-mail and instant messaging features (see last screenshot), making it more of a social experience but without the security and privacy hazards of existing services. KIDO’Z is currently completely free of charge, but the startup plans to start offering paid content packages in about three months, so parents can buy additional video material, games etc. for a couple of dollars per month. The company also told me it’s currently in the process of closing several deals with computer manufacterers to get KIDO’Z pre-installed on machines, and it expects to announce a number of partnerships soon. Other media browsers specifically targeted at kids include KidZui, KidRocket and BuddyBrowser. Crunch Network: MobileCrunch Mobile Gadgets and Applications, Delivered Daily.
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| Amazon Kindle Press Conference Confirmed for May 6 Posted: 04 May 2009 05:35 AM PDT  The news over Amazon's upcoming Kindle announcement broke late last night and this morning a gaggle of reporters and journalist types, including myself, received invites via e-mail to confirm the news. On May 6, Amazon will hold its press conference at Pace University in New York City, which happens to be the site of the NYT HQ back in the 19th century (factoid from Kaffka).
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| The Big Screen Kindle Hail Mary To Newspapers Will Fall Incomplete Posted: 04 May 2009 02:15 AM PDT
New reports have several companies on the verge of releasing large screen electronic readers designed specifically for reading newspaper content. The first such product may be unveiled as soon as this week — a large screen version of Amazon’s Kindle, which we first reported on last year. This is setting up a lot like the newspaper industry’s Hail Mary. And it’s a pass they won’t catch. The industry has been hit worse than anyone else by the ad spending slow down in our current recession. Almost all of the major newspaper companies are bleeding, and this week The New York Times Company may have to close the Boston Globe — a huge metropolitan newspaper. It’s sad. Some of the best journalistic work throughout this country’s history has been done through newspapers. But if these companies really are putting their faith in a large screen Kindle to save them, it may be time to start mourning them for real. The idea that a large screen Kindle (or any similar device) could save newspapers is a joke — and one that perhaps shows these newspapers do not even know their own killer. It’s not the “paper” part of newspaper that’s the problem, it’s the “news.” As in, newspapers are way too slow at delivering it in the age of the Internet. People are unsubscribing from newspapers because what’s the point of reading something in print a day after you’ve read it online? Sure, there are certain takes by certain authors worth reading later, but even most of those are now online first. And of course there is something to be said for good journalism, but that is being done online as well — and can be viewed for free. For the most part, the newspaper industry as it stands today is the very definition of “a day late and a dollar short.” Would the newspapers save a lot of money by literally stopping the presses, and distributing their content digitally to these readers? Of course, but they would save just as much money — if not more — by entirely switching to the online format. Some have already done that, but many don’t want to because it’s proven hard to make people pay for content on the web. But the idea that people are going to run out in droves to get these new giant Kindles just to have the privilege of paying for newspaper content is absurd. Yes, some people are paying for the content on regular Kindles right now, but that’s only because that device has a gateway drug: Books. Books have proven to be popular in electronic format (beyond Kindle, just look at the iPhone eBook sales to prove it). But books are fundamentally different from newspapers. There isn’t a free online equivalent to books, like the newspapers have to contend with in blogs. People do not buy Kindles just to get the newspaper or magazine content, and they’re not about to start now.
But the number one problem with the Kindle is its price. At $360 it’s way too expensive for the average consumer to go out and buy. So how much would a Kindle with a larger screen cost? You’d have to imagine it would be more, if not significantly more. So let’s assume that it’s $500. And if it’s $500, for a device meant to read newspapers and magazines (in grayscale no less), it might as well be $10,000. Again, the only reason the Kindle is selling pretty well at its ridiculous price is because of books. Newspaper and magazine content will not mobilize users in the same way. Speaking of mobilizing, one reason people still do enjoy newspapers is because they are very mobile. But who on Earth is going to want to take a large screen Kindle on the go? Sure, if it is also a tablet computer that has many functions, it makes sense to carry around — but again, just a device for reading newspaper content? No. And such a device, like the Kindle itself, is just a holdover until all of these devices start to merge. And that’s going to happen sooner rather than later. So I implore newspapers not to put too much stock in these big screen Kindles. I know the options are awfully thin as to what can save you, and the Kindle is a potentially sexy savior; but it is not the answer. I’m really worried when I read articles like the one in the NYT that quotes high ranking print media industry folks as getting all excited about the possibilities with these large screen readers. This is a false hope, people — a Hail Mary. Crunch Network: CrunchBase the free database of technology companies, people, and investors
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| TweetPhoto Aims To Take On TwitPic By Adding More Features. Will It Stick? Posted: 04 May 2009 02:04 AM PDT
Now a new contender, TweetPhoto, has launched its service and plans to go head-to-head with TwitPic, which seems to have emerged as the leader of the pack with over 1 million users and traffic going through the roof (sometimes bringing along the same scalability problems that plagued Twitter for years). In a way, TweetPhoto is more like Posterous, which allows users to micro-blog by e-mail and also doubles as a photo sharing service with Twitter integration (at least the way I use it). The service lets you upload photos by e-mail, mobile phone or the web, and automatically posts links to the images on Twitter and Facebook. Conveniently, TweetPhoto automatically geo-tags photos and offers decent search functionality and trending topics, features that are currently lacking on TwitPic. TweetPhoto also added a social layer which allows you to tag, favorite and comment on photos but also see who favorited and commented on your own photos. It also offers a way for users to embed custom widgets on their blogs and of course even boasts its own URL shortening service, dubbed Pic.gd. Of course, there’s no guarantee more features means TweetPhoto will stand a chance against TwitPic and other services that have been around for years. People seem to be comfortable with using TwitPic despite its lack of features (which is being worked on, by the way), and I doubt more features will make them switch any time soon. That said, if you were on the look-out for a Twitter photo sharing app that offers that extra bit of functionality, I’d suggest you give TweetPhoto a spin. Crunch Network: CrunchBase the free database of technology companies, people, and investors
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| Larger Kindle for Textbooks and Newspapers Coming As Early As This Week Posted: 04 May 2009 01:12 AM PDT  There are two money shots in Brad Stone's report on a new Kindle coming this week with a larger screen designed specifically for reading newspapers and magazines. Here they are: But it is Amazon, maker of the Kindle, that appears to be first in line to try throwing an electronic life preserver to old-media companies. As early as this week, according to people briefed on the online retailer's plans, Amazon will introduce a larger version of its Kindle wireless device tailored for displaying newspapers, magazines and perhaps textbooks. An Amazon spokesman would not comment, but some news organizations, including The New York Times, are expected to be involved in the introduction of the device, according to people briefed on the plans. A spokeswoman for The Times, Catherine J. Mathis, said she could not comment on the company's relationship with Amazon.First, we already knew that a larger Kindle was coming, so this news simply buttresses our original information with a modicum of rumor. Then Stone notes that he talked to his own employer - the NYT - and they didn't comment. As Joel at BBG writes, "HINT HINT!"
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| Trent Reznor Responds To Apple: You Want Obscene, I’ll Show You Obscene Posted: 03 May 2009 09:13 PM PDT
Here’s what Reznor had to say (warning, it gets pretty graphic):
Below, find the rejection letter that Apple sent NIN’s developer:
Here’s an update from the actual developer as well:
So NIN went as far as removing the supposedly offending content from its servers to appease Apple. Pretty crazy if you ask me. [via Reznor's tweets] Crunch Network: CrunchBase the free database of technology companies, people, and investors
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| Posted: 03 May 2009 08:36 PM PDT
These goats, which were being picked up today and transported to their next gig (at Morgan Hill), will do this field-clearing once a year for Google, the herder on site told me. He was a bit concerned for the goats because a few of them got sick due to people feeding them flowers (which, apparently, are poisonous to them), he told me. PETA, would no doubt be concerned about the lack of shelter for when it was raining, and the electric fence that encircled the goats. But all in all, it looks like the goats did the job they were brought in for, and were very efficient in doing so. Now, the question of if it cost Google more in both money and fuel to have the goats shipped over to the site versus what it would have been to pay some people to mow the lawn, is a different question. But hey, nevermind that, cute friendly goats! Check out some pictures below and two videos below that. The Qik video has some more substance, but is much longer and is pretty hard to hear at points due to the wind.
Crunch Network: CrunchGear drool over the sexiest new gadgets and hardware.
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| Kidlandia Personalizes Fantasy Maps For Kids Posted: 03 May 2009 04:56 PM PDT  As a four-year-old, Brian Backus became captivated by the children stories told by Dr. Seuss, a neighbor of Backus’s aunt. According to Backus, Dr.Seuss’s tales inspired him to join the world of cartoon storytelling years later as a producer at Disney Interactive. Now, Backus is launching Kidlandia, web destination where parents and kids can create personalized cartoon fantasyland maps named for the people and places that tell a child's personal story. Kidlandia lets parents and kids create maps of a fantasy land, where the child is King or Queen of their own eponymous fantasy kingdom such as “Leenatopia” or “Michaelland.” You can insert family members or friends names into the map, so other areas of the land incorporate family members’ names. The map also features whimsical characters from horned Uniquills and scowling Grumps to long-trunked Yuhoos on the map. Once created online, parents can order prints of the map for the child, which range from $40 for a small sized scroll to $180 for a larger sized, high quality, framed print of the map. Parents can order the maps to be printed on scrolls, that are easy for the child to carry around, or on canvas that is stretched over a frame to be hung. Backus says that Kidlandia is driven by what he calls the “Disney Strategy,” which focuses on getting parents and kids emotionally involved with characters and a story line and then merchandising products about the characters and stories to kids who want to integrate the tales into their everyday lives. In Kidlandia’s case, each map tells the child’s own fantasy story, a personalized family story. Backus plans to add additional merchandise to market, including stuffed animals and puzzles. Backus says that there is tremendous revenue potential in fantasy games and toys for children and is hoping to share in a market where Disney makes billions each year. Investors in Kidlandia include Josh Felser, former CEO of Crackle; Kent Lindstrom, a Friendster exec; and Dave Samuel, founder of Crackle and Spinner. Kidlandia is a creative idea and the price points for some of the maps are fairly reasonable. But there doesn’t seem to be any integration with the web to create a virtual world for kids alongside the product, which doesn’t make the site very interactive. Webkinz and Disney’s Club Penguin create virtual worlds for children to immerse themselves in a fantasy land, and have become increasingly popular.  Crunch Network: CrunchBoard because it’s time for you to find a new Job2.0
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| Corporate Tweets and the SEC: Sometimes It’s Better To Keep Your Mouth Shut Posted: 03 May 2009 12:23 PM PDT Last year, I covered the landmark SEC decision to recognize corporate blogs and potentially other forms of Social Media as a recognized form of meeting public disclosure requirements under Regulation FD (Fair Disclosure) – in some cases. It was a significant validation of a widely recognized medium for sharing information between publicly-traded companies and stakeholders. Jonathan Schwartz, CEO of Sun, among many others, successfully lobbied over the years for official recognition of blogs and the SEC finally took notice. The real question is, did other public companies and their communications and Investor Relations teams take notice? Just under a year later, all was quiet on the social IR front until recently. But questions are swirling. While PR, marketing, advertising, branding, HR, and customer service are rapidly adopting participatory communication channels such as Twitter and Facebook, IR has (wisely) observed the landscape to ascertain the risks and opportunities present within the new SEC guidelines. It's time to bring this discussion into the spotlight again in order to connect IR, PR, and legal in the dialogue that will prompt new policy and regulation to better serve investors, customers, and influencers. Recently, I hosted a discussion on this very topic at the NewComm Forum in San Francisco. I assembled an expert panel that included those active in covering and defining the world of corporate disclosure in the era of the social web, including: Richard Brewer-Hay of Ebay, Bryan Rhoads of Intel, Tom Foremski of Silicon Valley Watcher and ZDNet, and David Gelles of Financial Times. The experiences and lessons shared in this discussion brought to light the real world internal concerns, challenges, and possibilities for integrating blogs, Twitter, and other social networks into the portfolio of disclosure tools. In reality, social media is reshaping disclosure and the practice of investor relations. As the social web begets a human voice and genuine transparency, it also raises the risks of meeting and maintaining legal compliance. It's true, the SEC has recently modified its stance on blogs, but as new social tools continue to innovate and gain traction, a gap may be widening between the ability for companies as well as the SEC to keep pace with a rapidly evolving landscape of social networks and the means to meet investor demand and simply keep up with all of the emerging opportunities for engagement and communication. Analyzing SEC Guidelines In last year's post, I playfully tossed out the idea of killing the press release in favor of new electronic formats and hubs that connect stakeholders, not because I believed that the press release is dead, but because I wished to challenge legal and communications teams to expand their reach to the communities that currently grip the attention of the people they wish to reach – especially when the news is favorable. According to the SEC, "As we have developed EDGAR to facilitate and promote electronic availability of information, we also have encouraged companies to make their Commission filings and other company information available on their web sites. We believe that company disclosure should be more readily available to investors in a variety of locations and formats to facilitate investor access to that information." However, before we get too far ahead of ourselves, the SEC published a 47-page report that outlines the boundaries for sharing information as well as holding companies and their employees liable for the information that they post on blogs, networks, communities, and discussion forums. If public companies are not proactively analyzing these guidelines and establishing internal policies, frameworks, and penalties, then they are exposed to the dangers that loom in the form of overly enthusiastic employees who are enamored with new and shiny social tools and objects. One wrong, irresponsible or casual post, comment, tweet, or status update can produce a domino effect of consequences that have yet to establish precedence. While a tweet, for example, may seem harmless, the activity and response sparked by an update could result in repercussions that trigger SEC investigation and shareholder retaliation. Corporate and marketing executives who normally rely on self-restraint and common sense across the organization aren't employing common sense at all. Investor Broadcasting vs. Investor Relations Traditional Investor Relations serves analysts, investors, stakeholders and influencers through a combination of strategic outreach and the ongoing distribution of material information using compliant channels. With the extension of the model to now include social networks and also the experimentation of publicizing personalities in the process, companies are potentially emphasizing the "relations" in IR. This opens up a particular area of focus as maintaining relations with analysts for example, is considered outside the realm of traditional disclosure. Engaging in conversations with investors in the public timeline (statusphere), on Web sites, and in the blogosphere, potentially place companies in jeopardy of backlash and legal action. In a discussion with several corporate bloggers, social media strategists, and also IR professionals, how and when to engage in social media was a shared concern. While each were divided in their position on corporate brand versus personal brand when distributing information in social networks, they were united on two important fronts that set the tone for any organization exploring and documenting best practices for participation. The first contends with individuals, particularly those of influence, who share glaringly incorrect information that will most likely have a negative impact on trading and value. Every person I spoke with agreed that a public response in these cases is most likely necessary and that the tone of the response should introduce information poignantly and factually without added perspective or personality. In the instances when public discussions bash or question company decisions, news, or value, all were in agreement that these conversations are better left untouched. As I mentioned in a recent article published in the Financial Times by David Gelles, "If the people doing social media for a company aren’t informed enough to do the right thing when using these tools, you’re in danger." Gelles explained went on to explain, "Companies are using social media to good effect in several ways. Through new dialogues with their customers, some companies are improving their public relations. With opt-in marketing, other companies are generating additional sales. . . . But when it comes to investor relations, it’s not clear how much social media can contribute. The SEC has strict guidelines about disclosures. Regulation Fair Disclosure necessitates that material information distributed through social media be consistent in timing and language with conventional press releases. Moreover, companies so far seem uninterested in using social media to foster new conversations with investors about their stock’s valuation. So while companies may be applauded for embracing new communication tools, there is little additional value that social media can bring to investor relations. Even if companies do use social media as an additional method to broadcast earnings or material information, at this point those efforts are more about public perception than investor relations." Integrating New Technology with What Works Today Yes, it's the company's responsibility to reach people where they are actively seeking and sharing information, but the SEC also cautions communicators in doing so. Just because blogs, social networks, and micro communities such as Twitter and FriendFeed are the current flavors of our digital generation, their conversational roots and culture do not relinquish companies from their responsibility to share data in a way that complies with federal securities laws. The SEC guidelines clearly state, "While blogs or forums can be informal and conversational in nature, statements made there by the company (or by a person acting on behalf of the company) will not be treated differently from other company statements when it comes to the antifraud provisions of the federal securities laws. Employees acting as representatives of the company should be aware of their responsibilities in these forums, which they cannot avoid by purporting to speak in their 'individual' capacities." Companies must not abandon or sacrifice the bridges and services that already effectively connect information to people today and also comply with SEC regulation. It's the responsibility of any community-focused organization to use all of these tools and channels in a way that extends and supplements each other. While press releases are among the top choice for meeting disclosure, they are not necessarily inexpensive and therefore encourage the exploration of new conduits. Companies report spending $15,000 - $50,000 or more per year on issuing press releases in order to satisfy Reg FD. Traditional and social solutions can also be considered as they are sometimes as or more effective than a traditional press release, especially in a recession where every penny counts. The sometimes-exorbitant costs of meeting disclosure have also fueled the study and technological evolution of corporate blogs, wikis, and social media releases. They represent exciting, modernized possibilities to adapt to and connect with constituencies and influencers in ways that some rely upon in order to make decisions and also process and produce content based on material company information. This isn't an " either, or" discussion. The Wall Street Journal reminded us recently that corporate blogs and tweets must keep the SEC in mind. I'd also include that companies must ultimately keep investors and their communities in mind while using the SEC guidelines as the map in which to connect with them according to meeting disclosure requirements. Playing by the Rules: Amplifying Corporate Reach and Resonance There's a difference between mandates and guidelines and it's your responsibility to understand the nuances in order to comply with Reg FD, while not missing the prospects associated with new and influential online communities. When you read the SEC guidelines, you'll quickly realize that they do not provide specific instructions and boundaries that dictate permissible and prohibited procedures and activities. In its current form, direction is gray at best. However, analyzing the guidelines based on the framework implied by the SEC, as it correlates to the culture and interworking of any organization, provides a blueprint for constructing a compliant and most likely, more effective, communications infrastructure. Companies will need to consider whether and when postings on their Web sites, communities, or networks are "reasonably designed to provide broad, non-exclusionary distribution of the information to the public." While the SEC specifically mentions Web sites, forums, and blogs, it does not specifically name popular networks such as Facebook or Twitter – at least not yet. But that does not mean that they are excluded from the potential communications channels companies can use to reach stakeholders today. The guiding principle is pervasive throughout the document and essentially advises that companies use the tools and services that reach constituents when, where, and how they rely upon receiving timely information, "In order to make information public, it must be disseminated in a manner calculated to reach the securities market place in general through recognized channels of distribution, and public investors must be afforded a reasonable waiting period to react to the information." Ebay is one of the widely referenced examples as it relates to disclosure and the Social Web. It also spotlights an instance when an individual employee is at the forefront of traditionally guarded and controlled information production and distribution process. In this case, Chief Blogger and Richard Brewer-Hay maintains a blog and Twitter account where his personal presence is as dominant as his affiliation with eBay. In January, Ebay released fourth-quarter results and while listening to the earnings call, Richard Brewer-Hay posted live updates to Twitter. The legal team was alerted and after analyzing the medium, possible liabilities, and also associated potential, the team documented a series of 140-character disclosure statements. One tweet reads: “The presentation of this financial information is not intended to be considered in isolation or as a substitute for GAAP financial measures.” As its "internal reporter," the company empowers Brewer-Hay to transparently share company activity to shape the brand and inject personality and perspective through a strategic and proactive outbound communications program. But he's not alone in his efforts to humanize the corporate voice in and around financial reports, disclosure and earnings obligations through blogs, Twitter, and other social presences. Johnson and Johnson recently reported, for the first time, minutes from the company's annual meeting via Twitter. EMC Corp also uses Twitter to extend the reach for company news, while also tracking the opinions of employees, investors and peers. Dell publishes Dell Shares, an investor relations blog that complements the company's blog network dedicated to providing transparency and insight related to corporate activity, technology, and products. In David Gelles' Financial Times articles, Dell’s Vice-President of Investor Relations Lynn A. Tyson acquiesced that she was initially reluctant to start Dell Shares, “One of the challenges on the blogosphere is disclosure. How do you comply with all the disclosure requirements in an environment that could potentially create more risk?” In May, Intel Corp. will allow shareholders to ask questions via the Web and vote online during its annual meeting. But for now, the company isn't yet integrating blogs and Twitter for use in investor relations until further research and analysis can provide a solid and meaningful connection between Intel and investors. The Society of New Communications Corporate Twitter Accounts include (partial list): - Best Buy Public Relations Investor Relations and disclosure aside, every company needs a public presence and voice as it relates to Public Relations, customer relationships, community development, reputation and brand management, and product development. Bryan Rhoads at Intel shared his experience and lessons so that others can overcome common challenges and hurdles within organizations seeking direction and ROI for social participation, "Start small, do the due diligence and have patience… and be fine with being a change-agent for the following year or two. At Intel, I had many serendipitous relationships and circumstances that allowed us to move forward with external social media. First, we had some pioneers in this space that served as natural allies and examples that we leveraged for a foundational framework. We also approached amiable members of our legal and management teams to build those relationships and to ensure that we had the proper strategy, risk assessments, process, etc. This air cover and due diligence allowed us to undertake a small pilot blog." Rhoads also observed, "We took the deliberate approach and philosophy that employees must have direct access to the audience without complicated workflows through PR/Legal. These needed to be "real" employees who had an information dense story to tell. A natural candidate for the pilot was our own IT Department, i.e. to have our own Intel IT managers talk about how they implement Intel technology and also show how we eat our own dog food through a "peer-to-peer" lens to other IT managers facing similar challenges, difficulties, questions, ROI, etc. Our IT@Intel blog pilot was a natural and authentic "in-the-trenches" story that resonated with more than just IT Managers. Its success then made it easier to expand employee blogging and social media in early 2007, where we had the process, the policies and the strategies in place to offer additional blog flavors such as Research, CSR, Technology and Geo blogs in Chinese, Russian, Spanish, etc. All in all, we have over 35 flavors of communities and blogs on intel.com." Corporate Voice vs. Individual Personality Indeed, the SEC is recognizing company-sponsored blogs and networks, which can include CEO blogs and investor relations blogs, among other communities, as official presences in addition to company web sites, "Companies can use these for a variety of purposes, including allowing for the exchange of opinions and ideas between a company's management or certain other employees and its various stakeholders. The open format of blogs makes them an attractive forum for ongoing communications between and among companies and their clients, customers, suppliers, shareholders and other stakeholders. Similar to blogs, electronic shareholder forums can serve as a means for investors to communicate with companies and each other and to provide investor feedback on various issues in a real-time basis, and we have adopted rules to encourage their use." These rules raise concerns as to the extent of transparency and humanization of the information shared, requiring a delicate balance between personality and objectivity. Remember, it's not just what you do say and how, but also what you don't say that can lead to speculation and movement based on interpretation and speculation. For example, some eBay followers have noticed a change in tonality in Brewer-Hay's tweets. But, if it doesn't expose eBay to legal proceedings and still delivers information in a way people prefer, then so be it. What's important to realize is that maintaining a presence on the Social Web is not formulaic, whether it's PR or IR. The answer lies in what matches existing company culture and also appeals to stakeholders in ways that they favor. The spirit of the Social Web seems to galvanize the presence of a person or persona, but perhaps interim corporate accounts could help ease the foray into unchartered waters for many organizations. This is all driven and steered by community feedback. By not participating or listening to communities across the web however, companies gain nothing in terms of value, advice, or feedback – no matter what stage of participation companies fall within. This is not the time to plug our ears and close our eyes in the hopes that this social fervor will subside. Creating an Effective Communications Network A critical theme within the SEC documentation is the stipulation that companies are more likely covered under the Fair Disclosure act if they publish information equally and accurately through a variety of traditional and digital passages. More importantly, companies should create a hub that documents all available mediums to receive information as it's made public. For example, list all press release services you employ; provide a directory of relevant blogs with URLs and RSS Feeds; list Twitter, FriendFeed, FaceBook or other relevant social network profiles; share podcast links and presences on other audio networks such as iTunes; embed electronic documents and link back to host accounts such as DocStoc and Scribd; and also link to a traditional or social media newsroom if this isn't already the directory where this information resides. News and intelligence should not reside in any one place. Concurrently, new channels should not suddenly appear without proper attention and disclosure. The SEC advises the practice of writing and distributing Notice and Access press releases to alert stakeholders to upcoming material announcements and pointing them to the place of distribution. Notice and Access is the SEC's attempt at helping companies reduce costs associated with traditional press releases, while still utilizing the tools they use today to receive information. Since these releases dramatically reduce the word count, they also minimize the typical expense per release. The advantages associated with Notice and Access also extend well beyond the financial savings or meeting disclosure. Notice and Access provides a cost-efficient vehicle to condition investors and influencers towards any given format companies choose to prioritize, including corporate blogs and Web sites. Wherever possible however, the operation of traditional and new media cross pollination enables companies to broadcast information to a distributed compilation of networks that deliver information instantly, serving the appetite for immediacy where people choose to consume news. These are monumental times in which new regulation and interactive communication channels are established and shaped as marketing and legal teams reach accords based on their interpretation of Regulation FD, the migration and shift of investor consumption patterns, and the experiences associated with evolving corporate experimentation and participation. New SEC guidelines are imminent and chances are they will cover some of what's already been discussed in this article. The lessons shared here indicate that an ambitious program to extend corporate communications combined with a conservative, truthful, and unbiased voice may best serve the function of corporate disclosure and investor relations in the near future. In the end, while companies embrace the social web, its prevailing spirit may actually work against the desire or ability to fully engage in the very conversations that power and define it – at least from any dialogue that involves financial performance or material, undisclosed information. Connect with me on Twitter, FriendFeed, Facebook, or LinkedIn. Photo credit: Flickr/Juli Crunch Network: MobileCrunch Mobile Gadgets and Applications, Delivered Daily.
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| How OpenTable Could Actually Matter Posted: 03 May 2009 11:02 AM PDT
There's still no word on when OpenTable will actually price, but so far, the IPO is still on, signaled by the company filing its first quarter earnings with the Securities and Exchange Commission on Friday. What's more: It had an OK first quarter. Revenues increased from $13.2 million a year ago to just under $16 million, and the quarter had a modest $366,000 profit. Last year's first quarter came with an $87,000 loss. Now that the markets have recovered, I'm betting on a pricing later this year. That’s good for me: I’ve been promised a sit down with the CEO once the quiet period is over. (Send me your burning questions!) And it’s certainly a much better thing for OpenTable's very patient investors and venture capital as a whole. The National Association of Venture Capitalists is so concerned about the lack of IPOs in venture land that it recently laid out an ambitious proposal to change the rules. But OpenTable is hardly an Internet homerun. It's frequently described as a consumer Internet company, when really it's a software-as-a-service company. The good news –for this moment in time—is that that means Open Table doesn't have an ad model. It actually has paying customers in the form of restaurants using its reservation software and paying it monthly subscription fees. But what software-as-a-service companies gain in predictability of revenues, they lose in big blowout quarters. In other words: Don't expect this IPO to set the world on fire. Netsuite—a company with a far bigger addressable market, a better growth rate and more than three times OpenTable's annual revenues– hasn't fared well since its 2007 IPO, and so far Salesforce is one of the only SAAS companies to get to $1 billion in annual revenues. A business like OpenTable's takes a lot of investment in sales and marketing to close a modest deal, and that will be harder as the company strives for more international reach. But there is one way OpenTable could use this IPO to its advantage: Forget international expansion for now and use the IPO proceeds and new stock currency to acquire a real consumer Internet company or at least some star UI talent. I've long criticized OpenTable for catering only to the restaurants, and not caring much at all for the actual diners. Just look at the so-called loyalty rewards system: You practically have to eat out every day of your life to get a $20 dining voucher, and points expire without any notice. They'd do better not to have a loyalty program at all. In short, for diners OpenTable has been a convenience but not much more. And since many restaurants call you to verify the reservation and insist you call them back, it's not really even that convenient. Can you imagine having to call United after you've already bought your ticket online or call Amazon to verify you really wanted to buy that book? But increasingly OpenTable seems to be inching in the user-friendly direction, and it turns out being the only player who knows exactly where you've dined, when, and what availability there is in restaurants near you at every moment can be a pretty formidable advantage. Consider user reviews, a feature idea OpenTable only recently launched. My initial reaction was it'd be near impossible for OpenTable to compete with Yelp's edge, community and UI savvy. But unlike Yelp, OpenTable knows where you've dined, when. Like NetFlix or Amazon can prompt you to review a rental or purchase as soon as the transaction has occurred, OpenTable now sends out an email asking for your thoughts. With some UI help and a one-click-from-the-email rating system, the company could get people in the habit of quick reviews and build a library of your tastes, tailoring recommendations in other cities for you, or even sell that data back to restaurants. It shouldn't aim to get the same depth of reviews that Yelp gets. Instead, it should aim for breadth. A simple, one-click yay or nay on every place you dine that no one else can replicate, because no one else owns the reservation engine. Here's another edge that isn't new, but was new to me: Because OpenTable's software is at the host stand, diners can search for real-time reservations. Say it's a Friday night in San Francisco and you're wondering what restaurant you can get into in ten minutes. Before you'd have to call around blindly asking how long the wait was. On OpenTable you can search for immediate openings in a given neighborhood. Most online reservations sites have an hour cut off because the systems have to sync together. But OpenTable is the restaurant's system. It's the first time I've seen OpenTable actually do something for me as a diner that I couldn't have done any other way, and the new location-aware iPhone app makes that functionality all the more powerful. These are baby steps to the applications OpenTable could develop on top of its in-restaurant software edge if it hired some crack consumer Internet talent. Here's hoping the IPO is a means to that end, and not just the final destination for a company that's mostly spent the last decade playing it safe. Crunch Network: CrunchBase the free database of technology companies, people, and investors
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